Part-Buy, Part-Rent - Frequently Asked Questions

What is new-build shared ownership?
New-build shared ownership is a part buy, part rent scheme. If you purchase a property on a 30% share, you would get a mortgage for that 30% (unless you had a lump sum to put down), and then pay rent for the other 70% of the property.

How can I apply for shared ownership housing?
You will need to supply the Guinness Homes sales team with your details (address, contact number, family composition), and they can send an application pack in the post to you.
You can contact them by telephone: 0844 800 20 20 , e-mail sales@guinnesshomes.co.uk or visit their website www.guinnesshomes.co.uk.

What is the criteria for applying for shared ownership?
The main criteria is that you cannot afford to buy a suitable sized home for your needs on the open market. If you already own a property it must be in process of being sold before you can reserve a property.

What is a re-sale?
This is a shared ownership property that was built and sold in the past but is now available to buy on a part-buy, part-rent basis, because the existing owners want to sell.

What is a key worker?
To qualify you must be a public sector key worker, the definition of a key worker changes with new job categories being added all the time. Generally key workers are NHS staff, teachers, fire-fighters and police.

For more questions and answers go to:
www.guinnesshomes.co.uk